What is Bigpips？
Bigpips, founded in 2016 and based in China, operates as a non-regulated brokerage firm in the financial market.
Pros & Cons
Pros:
Competitive Spreads: Bigpips offers competitive spreads, making trading more cost-effective for its users. Specific spread values for different account types are provided, with the lowest spread starting from 0.2 pips.
App Available: Bigpips provides a mobile App, that allows traders to access the platform conveniently from their mobile devices.
No Transaction Fees: Bigpips does not charge transaction fees, reducing the overall trading costs for its users.
Cons:
Is Bigpips Safe or Scam？
Regulatory Sight: Bigpips is currently functioning without any regulation, meaning it does not fall under the supervision of any financial regulatory bodies and does not possess any licenses to operate in the financial market. The absence of any such oversight raises concerns about the firms adherence to financial standards and regulations, increasing the risk for investors.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
Forex: Major, minor, and exotic currency pairs for forex trading.
Currencies: Currency pairs beyond the forex market, potentially including cryptocurrencies.
Commodities: Trading opportunities in various commodities like gold, silver, oil, and agricultural products.
CFDs (Contracts for Difference): Contracts based on the price movements of various underlying assets, providing traders with exposure to diverse markets.
Indices: Access to global stock market indices, allowing traders to speculate on broader market trends.
Stocks: Trading opportunities in individual stocks of companies listed on major stock exchanges.
BIST: Trading on the Borsa Istanbul, Turkey's main stock exchange, for exposure to Turkish equities.
Futures: Contracts to buy or sell assets at a predetermined price on a future date, offering speculative opportunities across different asset classes.
Account Types
Standard Account:
Minimum deposit: $500
It is suitable for beginner traders or those with limited capital and provides basic trading features and access to the platform's resources.
Gold Account:
Minimum deposit: $2,000
It is designed for intermediate traders who seek enhanced features and benefits, and it offers additional perks such as lower spreads, dedicated customer support, and advanced trading tools.
Diamond Account:
Minimum deposit: $5,000
This account type is tailored for experienced traders and those with larger trading capital. It provides premium features such as priority customer support, personalized trading insights, and exclusive market analysis
Hisse Account:
Minimum deposit: $7,000
The highest-tier account offers the most comprehensive range of benefits. It includes VIP perks such as custom trading conditions, exclusive invitations to events, and personalized account management.
Spread
Bigpips provides competitive spreads on all its tradable instruments, so traders can access favorable pricing when entering and exiting positions. The lowest spread Bigpips can offer is 0.2 pips, which is very competitive in the industry. The standard account also enjoys a tight spread of 1.2 pips, so traders with smaller capital can have access to this feature, too.
For commission, Bigpips does not charge fees for deposits and withdrawals, but “low” commissions are mentioned. However the detailed information of commissions is not mentioned on the official website, so we don't know how “low” is the commission.
Trading Platform
Bigpips offers a comprehensive and versatile trading platform, known as Bigpips Application, designed to meet the needs of traders of all levels of experience. The platform contains following features:
Advanced Technology: Bigpips Application is built on the latest technology, providing traders with a cutting-edge platform for accessing financial markets.
Multi-Device Accessibility: The platform can be accessed from various devices, including PCs, Macs, mobile phones, and tablets, offering flexibility and convenience for traders to trade from anywhere in the world.
User-Friendly Interface: With a smart interface, Bigpips Application enhances the overall trading experience, making it intuitive and easy to navigate for both novice and experienced traders.
Rich Functionality: Bigpips Application offers a wide range of features, including fundamental and technical analysis tools, copy trading, automated trading, and an integrated economic calendar. Traders have access to over 44 chart objects, a built-in email system, and an alert system to stay updated on market events.
Multi-Language Support: Available in over 30 languages, traders from diverse linguistic backgrounds can also access the platform.
Customer Support
WhatsApp: Traders can reach out to Bigpips support team via WhatsApp for real-time assistance and communication.
Email: The primary email contact provided is info@bigpipsfx.com, allowing traders to send detailed queries or requests for support.
Social Media: Bigpips maintains a presence on social media platforms like X and Instagram, where traders can connect with the company, stay updated on news and announcements, and reach out for assistance.
Company Address: The physical address of Bigpips is at Falkenhöheweg 20, 3018 Bern, Switzerland, which enables traders to reach out via traditional mail if necessary, though it's typically not the primary means of communication in today's digital age.
Conclusion
Bigpips is a broker that provides multiple market instruments, competitive spreads, and a mobile app. It currently holds no regulations, and we do not recommend users to trade with non-regulated brokers.
Frequently Asked Questions (FAQs)
Q: Is Bigpips regulated or not？
A: No, it is not regulated.
Q: What is the minimum deposit required to open an account on Bigpips？
A: The minimum deposit required is $500.
Q: What is the lowest spread it can offer？
A: The lowest spread it can offer is 0.2 pips.
Q: Does Bigpips support on-the-go trading？
A: Yes, it does. Bigpips has an app.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
